Monitoring Desk,29-Apr; External Affairs Minister S. Jaishankar has said that Latin America is no longer considered a region too far due to a broadening of India’s interest is the reason and deeper globalization. The External Affairs Minister said, India’s trade with Latin America is approaching a volume of 50 billion US dollar which shows strong Indian ties with the region.
Mr. Jaishankar was addressing the diplomatic corps and students in the Dominican Republic about India’s engagement with Latin America. Underlining India’s growing investments, he said, India today imports crude from Brazil, Mexico, Colombia, and Guyana as there is a surge in investments in the energy sector.
India’s presence in sectors like IT, pharma, and two-wheelers has also increased. He also noted India’s growing political coordination with regional blocs of Latin America. He said since 2016, India has had a structured engagement with CELAC. Similarly, there is an arrangement to regularly interact with CARICOM and SICA. India is an associate member of the Pacific Alliance. The Minister also noted India’s growing political coordination with regional blocs of Latin America. During the event, Mr. Jaishankar also explained India’s Neighbourhood First Policy, which focuses on peaceful relations with its South Asian neighbours and India’s global ties in all directions.
